KUALA LUMPUR, Oct 16 ― Bursa Malaysia stayed firm at mid-morning, as investors remained positive over the strong overnight performance of Wall Street and European stocks.
At 11.02am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.58 points to 1,570.81, from yesterday’s close of 1,566.23.
The benchmark index opened 1.87 points better at 1,568.10
On the broader market, gainers led losers 389 to 240, with 341 counters unchanged, 1,006 untraded and 14 others suspended.
Turnover amounted to 1.29 billion shares worth RM606.55 million.
Hong Leong Bank Bhd in a research note said US stocks gained ground overnight as a series of upbeat corporate earnings alleviated worries over slower growth and temporarily put the current US-China trade dispute on the backburner.
“Investors exited safe havens as markets were back into risk-on mode,” it said.
The increasing prospect of a Brexit deal as news emerged that the European Union and British negotiators were closing in on a draft in a last-minute effort to prevent a hard withdrawal, also helped in boosting sentiment, it added.
Among heavyweights, Maybank and IHH Healthcare bagged one sen each to RM8.52 and RM5.64 respectively, while Tenaga gained six sen to RM13.76.
Public Bank gained two sen to RM19.28 and Petronas Chemicals improved three sen to RM7.32.
Of the most active, NetX Holdings and Sapura Energy edged up half-a-sen to 2.5 sen and 27.5 sen respectively, KNM Group bagged one sen to 45.5 sen, I-Stone improved two sen to 24.5 sen and KNM warrant added 1.5 sen to 20 sen.
The FBM Emas Index increased 36.48 points to 11,192.72, the FBMT 100 Index bagged 37.27 points to 11,006.09 and the FBM 70 rose 69.12 points to 14,138.46.
The FBM Emas Shariah Index was 45.14 points higher at 11,814.47, while the FBM Ace surged 95.99 points to 4,736.56.
Sector-wise, the Financial Services Index increased 18.15 points to 15,164.08, the Plantation Index rose 31.32 points to 6,666.46 and the Industrial Products & Services Index was 0.29 of a point better at 151.72. ― Bernama
